Swiss asset manager Pando Asset has joined the race for a spot Bitcoin ETF in the US.
Pando Asset has filed a form S-1 with the U.S. Securities and Exchange Commission (SEC) to establish an exchange-traded fund called Pando Asset Spot Bitcoin ETF that will trade on Cboe BZX.
While Coinbase was selected as the depository institution of the fund, it was noted that pricing will be made based on CME CF Bitcoin Reference Rate. Bank of New York Mellon will manage the fund.
SEC, BlackRock has not yet approved ETF applications filed by Fidelity, 21Shares and Ark Invest, Bitwise, VanEck, Wisdomtree, Invesco, Valkyrie, Global X, Hashdex and Franklin Templeton.
The SEC will begin seeking public comment on the Franklin Templeton and Hashdex applications on Tuesday. It may speed up the evaluation process gave birth to the idea.
Pando currently has six cryptocurrency-based exchange-traded products on the SIX Swiss Exchange in Europe.